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IIA Vietnam to bolster internal audit profession
On November 2, the launching ceremony for the Institute of Internal Auditors Affiliate in Vietnam (IIA Vietnam), a member of the Global Federation of the Institute of Internal Auditors (IIA), was held at The Reverie Saigon Hotel in Ho Chi Minh City.
Attending the ceremony were representatives from the Ministry of Finance, Ho Chi Minh City Stock Exchange, Hanoi Stock Exchange, World Bank, the Supervisory Board, listed companies, and partners. The ceremony was also attended by leaders of IIA International and members of IIA in Vietnam.
At the ceremony, Anthony Pugliese, president and CEO of IIA said, “In September, we welcomed IIA Vietnam to the IIA’s global network. This includes more than 218,000 members who are served by a global federation of 115 international affiliates, which collectively represent nearly 200 countries and territories worldwide."
"Getting to this point has been nearly two years in the making, with our IIA Vietnam leaders working closely with veteran mentors to lay the necessary organisational foundations and complete a lengthy preparation process, which included demonstrating sustainable strategic plans, a commitment to ethical practices, and strong governance and compliance initiatives."
"We are happy to be here at this time to show our support and commitment to IIA Vietnam’s leadership team to ensure the internal auditors in Vietnam have full access to not only the IIA’s standards but also to a wide range of professional guidance, tools, resources, and world-class training such as the premier Certified Internal Auditor designation and the Internal Audit Practitioner programme," he added.
The launch of IIA Vietnam as a member of IIA Global is a turning point in the development of the internal audit profession in Vietnam in particular as well as of corporate governance in the country in general.
The growth rate of the Vietnamese economy, the rapid development of the capital market, and the need for reform of financial control in recent years have required best practices in corporate governance and independent supervision of control and risk, thereby creating a premise for the development of internal audit activities in Vietnam.
Hoang Hung, president of IIA Vietnam also emphasised, “IIA Vietnam will provide professional support to state management agencies and market regulators to develop regulations and guidelines for strengthening internal audits, internal control, risk management, corporate governance, and public expenditure management, while at the same time, establishing and participating in the supervision of professional and quality standards for internal audits in Vietnam."
The members of IIA expect IIA Vietnam to have a legal framework that will support internal auditors in the nation to develop and practice professionally in accordance with the Internal Audit Professional Practice Framework – the globally accepted internal audit standard. At the same time, IIA Vietnam will contribute to promoting the best internal audit practices in the region through access to IIA's full range of professional guidance resources.
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